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Jasper intends to sell certain real estate and facilities

Question - Jasper intends to sell certain real estate and facilities held by the Assembly Division at an after-tax pro?t of $935,000. The proceeds of this sale will be used to retire outstanding debt (described in c).

1. Determine the cost and tax basis of the land:

2. Determine the market value of the real estate:

3. Determine the authorization responsibility for use of the proceeds:

4. Determine the after-tax profit and proceeds:

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Accounting Basics: Jasper intends to sell certain real estate and facilities

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